President Trump is reportedly considering approving Japan's Nippon Steel's $14.1 billion acquisition of U.S. Steel, a reversal from his previous opposition. The president's decision remains pending, and he is expected to discuss the merger with Japanese Prime Minister Shigeru Ishiba during their meeting on Friday. Nippon Steel previously offered concessions, including giving the U.S. government veto authority over changes to U.S. Steel's production capacity, to address national security concerns.
President Trump is considering allowing Japan's Nippon Steel to complete its $14.1 billion acquisition of U.S. Steel , according to multiple sources. Approval of the transaction isn't definite, and Mr. Trump has not made a final decision, sources say. If he were to decide in favor of the merger, it would constitute a reversal of his earlier opposition to it. 'I am totally against the once great and powerful U.S.
The proposal represented a minor change to a recommendation from the Committee on Foreign Investment in the United States, a review panel known as CFIUS. That change was intended to allay concerns that Nippon Steel's proposed purchase of U.S. Steel could lead to a decline in domestic steel output and a reduction in its U.S. workforce. The proposed change in the so-called mitigation agreement would give all of the decision-making power on changes to production capacity to the U.S. government.
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